Indonesia’s largest technology company, PT GoTo Gojek Tokopedia (GOTO.JK), disclosed that it posted underlying losses of 900 billion rupiah ($56.66 million) in the third quarter, marking a substantial reduction from the 3.7 trillion rupiah reported in the previous year.

Significant decline in Q3 underlying losses is reported by Indonesia's GoTo

Workers are preparing items for shipment at the e-commerce facility of Tokopedia, a unit of Goto, located in Jakarta, Indonesia, on August 31, 2022.

GoTo, a company providing ride-hailing, e-commerce, and financial services, also indicated that its net losses for the same period amounted to 2.4 trillion rupiah, down from 6.7 trillion rupiah in the prior year.

(At an exchange rate of $1 to 15,885.0000 rupiah)

Author: Stefanno Sulaiman; Writer: Stanley Widianto; Editor: Kanupriya Kapoor

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